Contracts
In Massachusetts, a real estate contract involving a minor (under 18) is generally:
AVoid and unenforceable
BVoidable at the minor's option✓ Correct
CFully enforceable if witnessed by a parent
DVoidable at the adult party's option
Explanation
Contracts with minors are voidable at the minor's option under Massachusetts law. The minor may disaffirm the contract upon reaching age 18, but the adult party cannot void the contract.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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